Free trade agreements with the European Union and the U.S. have contributed to lowering the product prices of their consumer brands, the nation’s antitrust watchdog said in a report Thursday.

The Fair Trade Commission conducted a price survey on 22 bestselling import items following the FTAs with the EU and the U.S., that took effect here from July last year and March this year, respectively.

Of the surveyed products, 15 items were found to have seen a moderate price cut, the FTC said.

Dutch electric razor Philips RQ1260CC dropped in price by 4.4 percent, French electric iron Tefal FV9530 by 26.5 percent and German frying pan Whistler Alux Premium by 6.5 percent.

“The FTAs have brought price competition between European and U.S. products, not to mention competition with Korean brands,” said Kwag Se-boong, director generation of consumer policy bureau. “Such competition leads to better quality and lower prices.”

About widespread criticism that the price still remains high, the commission admitted that the discrepancy between tariff cuts and the final tagged price lies in the high distribution costs.

“More complex the distribution process, the more costly the distribution expenses,” the FTC official said.

The FTC said it will cooperate with government bodies and organizations to resolve such problem. Stimulating the online shopping industry, which fundamentally has low or no distribution costs, will be the most efficient resolution, it said.

According to the report, some products rose in price after the enactment of the FTAs. Foreign exporters suggested poor crops, technological upgrades, the hiking price of raw materials as an excuse, the FTC said.

By Chung Joo-won (joowonc@heraldcorp.com)